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If you want to pursue a profession that deals with high-level financial planning, consulting, and reporting, an online Master of Computational Finance program is one of your best options.
The world of investments is bombarded by market volatility, overwhelmed with complex investment portfolios and products where financial risks and valuations are becoming more challenging to forecast and evaluate. As a result, complex transactions and algorithms have already replaced yesterday’s portfolio and investment managers.
Overview:
If you need to add to your resume to get that job promotion you would like, earning an online Master of Computational Finance degree is the right choice! In today’s world, due to the complexity of the field, continuing education is a must-have! Check out the programs below today!
Quick audio summary:
Students planning to pursue careers in the business world with an emphasis on the quantitative factors of finance can enroll in an online Master of Computational Finance program. This program isn’t common in the US. As an alternative, many schools have started offering online Master of Financial Engineering, online Master of Science in Finance, or even graduate degrees in Finance and Economics programs.
Master of Computational Finance Degree
Also popularly known as the Master of Science in Computational Finance (MSCF), the online Master of Computational Finance degree is a graduate-level program for students who want to become proficient in risk management and the application of quantitative computational finance. It is a more specific program compared to the traditional online Master of Finance program.
The traditional Master of Science in Computational Finance program is offered by several accredited universities. However, students who prefer more flexibility and convenience can pursue an online graduate program in computational finance. Like the online Master of Commerce, the online Master of Computational Finance degree is not common within the US.
What You Will Learn
With an online Master of Financial Engineering program, students will learn how to integrate mathematical and engineering principles and theories into the finance sectors. It is an interdisciplinary program that includes major topics, including:
- Business
- IT
- Economics
Given the right qualifications and a graduate degree in Computational Finance, graduates can pursue lucrative career opportunities in the complex world of financial forecasting, analysis, and modeling.
To provide students with the best of both worlds, we curated the Ten Best Online Master of Computational Finance programs and the alternative graduate programs they can pursue.
Here, you can also read more detailed information regarding standard admission requirements, curriculum, and the common courses between these degrees.
METHODOLOGY
Computational finance, which applies directly to economic analysis, typically involves advanced knowledge of statistical, investment, and related financial principles. If you’re in any of these fields and wish to take a step further, an online Master’s in Computational Finance program will set you up for success in professional growth or career shifts!
A flexible and convenient web-based Computational Finance graduate program equips you with the complex and challenging financial industry. Make sure you acquire graduate education from top-flight online universities that meet standards of academic excellence.
These features are common to our picks of the Best Online Master of Computational Finance graduate programs offered in these schools:
- 100% online or hybrid curriculum that allows adult learners to acquire graduate education that works around their schedule,
- A Comprehensive Computational Finance graduate program coursework that focuses primarily on advanced mathematical, statistical, and econometric principles, and financial investments to prepare grad students for executive-level job positions and careers,
- Numerous Computational Finance concentration options that match the student’s specific field of focus,
- Taught by highly trained professionals and industry achievers who are well-regarded in their field,
- Integrated student services that unify virtual learning support and on-campus student affairs facilities,
- and, Displays proper accreditation.
Best Online Master of Computational Finance Graduate Schools
University of Washington
Seattle, WA
Online Master of Science (MS) in Computational Finance and Risk Management
The University of Washington is one of the world’s most innovative and proactive institutions of higher learning! UW has diverse partnerships with non-profits, communities, industries, and schools, promoting collaboration to solve global challenges.
One of the partnership highlights of UW is the Association of Pacific Rim Universities, connecting world-class research universities around the Pacific region. UW derives its regional accreditation from the Northwest Commission on Colleges and Universities.
- UW’s online Master of Science in Computational Finance and Risk Management program is offered through the Department of Applied Mathematics.
- The MS-CFRM program can be completed either as an extended course of study or the standard 42-credit hour general program.
- Depending on the student’s qualifications, students will be required or recommended to accomplish preparatory courses to bridge skills gaps or serve as a refresher.
- The 42-credit-hour program consists of 26 credits of mandatory courses and 16 credits of electives.
- Although students can attend a full-time program, the MS-CFRM program is offered as a part-time study, with less than ten credits per quarter.
Standout Features:
The University of Washington’s online Master of Science in Computational Finance and Risk Management program is the only graduate program in computational finance that can be completed 100% online. Furthermore, it is the only online program of its kind available in the US.
The university’s Computational Finance & Risk Management program is a self-sustaining interdisciplinary program that educates students to obtain advanced knowledge in computing, finance, statistics, economics, and applied mathematics.
As an innovative global university, the University of Washington ranks 14th worldwide in the Academic Ranking of World Universities, educating more than 54,000 on-campus and online students every year. UW confers 12,000+ undergraduate and graduate degrees annually.
University of Southern California
Los Angeles, CA
Online Master of Science in Financial Engineering
Formerly a rough-and-rumble city, Los Angeles is now home to the University of Southern California, considered one of the world’s prominent universities. It caters to over 48,000 students and 4,400+ full-time faculty in one of the world’s largest and most advanced metropolises.
USC houses 21 outstanding academic units and schools, including the state-of-the-art College of Letters, Arts, and Sciences. With $8B worth of economic activities in the state, USC is the largest private-sector employer in Los Angeles.
- USC’s online Master of Science in Financial Engineering can be completed on a full-time study within 1.5 to 2 years or part-time within 2.5 to 3 years.
- Distance learners can complete their courses and other projects via DEN@Viterbi, providing them with the same academic standards, curriculum, and program requirements as on-campus learners.
- Thirty units are required for the online MS in Financial Engineering degree.
- Advisor-approved electives must include two courses in Optimization, Simulations, and Stochastic Systems, and two finance, Business, and Economics courses.
- To enroll, students’ online applications must include their official and unofficial transcripts, GRE General Test scores, CV/resume, personal statement, and letters of recommendation.
Standout Features:
As a multidisciplinary program, the online Master of Science in Financial Engineering program has the best of both worlds from the USC Dana and David Dornsife College of Letters, Arts, and Sciences, the USC Marshall School of Business, and the USC Viterbi School of Engineering.
It is one of the very rare Masters of Science in Financial Engineering programs offered online. The 100% online program utilizes statistics, applied mathematics, engineering, and finance & economics to resolve the financial sector challenges.
In 1880, the University of Southern California first opened its institution to ten teachers and 53 students. Los Angeles was formerly a rough-and-rumble city that lacked fire alarm systems, telephones, paved streets, and electric lights. Despite that, USC became Judge Robert Maclay Widney and other colleagues building a university in the frontier town.
Johns Hopkins University
Baltimore, MD
Online Master of Science in Financial Mathematics
Johns Hopkins University derived its name from the 19th-century philanthropist from Maryland, Johns Hopkins. The university began in 1876 with the inauguration of JHU’s first president Daniel Coit Gilman.
Gilman guided the opening of the university and other institutions, including the School of Nursing and Medicine, the hospital, and the university press. Today, JHU is home to more than 7,000 undergraduates and 20,000+ graduates.
- JHU’s online Master of Science in Financial Mathematics program consists of ten courses that must be accomplished within five years.
- Students must have an undergraduate or graduate degree in a quantitative study area to enroll in the program.
- The program requires at least two years of relevant professional experience in finance or a related industry.
- The online MS in Financial Mathematics program comprises nine core courses and one elective course.
- Students can also pursue a certificate program as an option and apply their credits toward a graduate degree. For example, they can pursue a graduate certificate in Securitization, Quantitative Portfolio Management, or Financial Risk Management.
Standout Features:
John Hopkins University’s online Master of Science in Financial Mathematics program is one of the best alternatives to pursue in the absence of an online Master of Computation Finance program. Through the program, students will discover engineering-driven principles that power the global economy.
In addition to computational finance, the Financial Mathematics program will allow students to be educated in relevant topics, including quantitative portfolio theory, risk management, and financial derivatives.
Johns Hopkins University proactively prepares learners to be global citizens and leaders, partaking in international learning and research activities. JHU has a proud tradition of leadership in patient care, service, research, and education worldwide, from providing a graduate-level international relations campus in Italy to facilitating pioneering nursing and medical training in China.
The university also pioneers the COVID-19 pandemic statistics globally through Johns Hopkins’ Coronavirus Resource Center.
Duke University
Durham, NC
Online Master of Engineering – Financial Technology
Duke University was built in 1924 by James Buchanan Duke to commemorate his father, Washington Duke. However, the university traces its roots to a small school that opened in 1838 in Randolph County. It was formerly a preparatory school for young men called the Union Institute Academy.
The institution went into another transformation in 1859 when it asked the Methodist Church for financial assistance. Duke University has stood through the test of time and now caters to more than 15,000 undergraduate, graduate, and professional students.
- Duke University’s online Master of Engineering – Financial Technology program can be completed within five semesters.
- Distance learners will take nine courses, consisting of two Industry Preparation Core courses, four Technical Core courses, and three FinTech elective courses.
- An Industry Capstone Project will serve as a culminating experience where students work in teams, designing and creating FinTech solutions.
- Students will also complete a Master of Engineering Project, requiring approval from the faculty advisor.
- The online FinTech program requires three residencies at the beginning, mid-term, and end of the curriculum as opportunities for online students to interact with their colleagues and experience professional enrichment activities.
Standout Feature:
Duke University offers one of the best alternatives to obtaining a graduate degree in computational finance. Through the Pratt School of Engineering, Duke features an online Master of Engineering – Financial Technology.
Students will learn in a vibrant research and teaching school built in one of the leading universities worldwide. As a result, roughly 9 out of 10 Duke graduates pursue advanced studies or are employed within six months after graduation.
Duke University has transformed in numerous ways since its establishment, and similar to other historically white institutions of higher learning, it strives to resolve sexism, racism, and other equity and inclusion issues.
Duke’s international programs have grown over the last decades, bringing international students to Duke. In 2005, the university partnered with the National University of Singapore and founded the Duke-NUS Medical School.
Stevens Institute of Technology
Hoboken, NJ
Online Master of Science in Financial Engineering
The establishment of the Stevens Institute of Technology has revolutionized the engineering field with its steadfast commitment to excellence and innovation. Both the faculty and students at Stevens develop applications and state-of-the-art solutions for nanotech, medicine, finance, computing, and AI.
Established in 1870, Stevens Institute of Technology is one of the country’s oldest and most prominent technology universities.
- Stevens Institute of Technology has an online Master of Science (MS) in Financial Engineering offered through the School of Business.
- The online graduate program in Financial Engineering is categorized into two blocks, namely the 6-course core requirement and 4-course electives.
- Students will choose one out of five specializations through the Financial Engineering program, namely Algorithmic Trading Strategies, Financial Services Analytics, Financial Risk Engineering, Financial Statistics, or Financial Computing.
- The fully online program culminates in the student’s capstone, either a research-intensive or practical problem-solving course.
- Admission requirements include two letters of recommendation, GMAT/GRE scores, a professional resume, completion of prerequisite courses, and academic transcripts.
Standout Features:
Stevens Institute of Technology has a student-faculty ratio of 12:1, providing them with a more collaborative and inclusive learning experience. In addition, students pursuing an online Master of Science in Financial Engineering program will provide them with access to Headspace meditation and wellness services.
Stevens’ graduate program in Financial Engineering is among the Top 20 of the nation’s best financial engineering programs, according to QuantNet. With 10 minutes to Wall Street, the program also allows them to meet industry professionals in online lectures and events.
Stevens Institute of Technology collaborates with federal agencies, including two national research Centers of Excellence – the Systems Engineering Research Center and the Maritime Security Center.
The university has several rankings and recognitions from prominent publications and private and public sectors. For example, when it comes to sustainability, safety & campus life, the university is recognized as a Green College and ranked 6th for Best Colleges Cities by The Princeton Review.
University of Missouri
Columbia, MO
Online Master of Science in Finance
The four universities of the UM System, including the University of Missouri-St. Louis, Missouri University of Science and Technology, the University of Missouri-Kansas City, and the University of Missouri-Columbia offer more than 260 certificate and degree programs.
The university receives its regional accreditation from the Higher Learning Commission. Founded in 1839, the university is the 1st public university west of the Mississippi River.
- Mizzou’s online Master of Science in Finance program requires 30 credit hours to complete a graduate degree.
- Each online course is delivered either on 16-week 3-credit hour courses or 8-week 1.5-credit hour courses.
- The 100% graduate program will require students who work more than 30 hours per week to enroll as part-time students.
- Students must complete 30 credit hours during a minimum of three succeeding semesters during fall, spring, and summer.
- The program is available to both non-finance and finance-related baccalaureate students.
Standout Features:
The University of Missouri’s online Master of Science in Finance program is offered through the Trulaske College of Business – Finance Department, accredited by the Association to Advance Collegiate Schools of Business.
With Financial Statement Analysis, Investment Policy and Portfolio Management, and Derivative Securities, Mizzou’s Finance graduate program is one of the closest alternatives to a Master of Computational Finance program.
The university also provides students who aren’t ready for a full graduate program with online certificate programs in financial management and investments.
The University of Missouri is a flagship, land-grant institution of higher learning and is one out of 65 universities in the US and Canada to be a proud member of the prestigious Association of American Universities.
With a generous amount spent on grants and scholarships, 48% of students at the University of Missouri have earned their degrees with no debt.
University of Cincinnati
Cincinnati, OH
Online Master of Science in Finance
The University of Cincinnati online offers non-traditional students a balance of real-world experience and academic excellence. According to the US News & World Report, the university is a public research university with admissions of over 45,000 students and has been distinguished as one of the premier Best National Universities according to the US News & World Report.
Committed to inclusivity, UC has 27% of its graduating population comprising first-generation college students. UC online and all regional campuses derive accreditation from the Higher Learning Commission.
- UC’s online Master of Science in Finance program consists of five to six elective hours and 23 semester credit hours.
- Students can earn both an MBA and an MS in Finance as a dual degree option completely online.
- A complete enrollment application will include official GRE/GMAT scores, official and unofficial transcripts, two letters of recommendation, a career goal statement, and a resume.
- Students can apply for a waiver of up to a maximum of ten hours for the Business Foundations courses depending on previous bachelor coursework and work experience.
- The program offers students the option to specialize in one focus area: Real Estate, Risk Management, Investments, or Corporate Finance.
Standout Features:
The University of Cincinnati’s online Master of Science in Finance program will serve as one of the excellent computational finance graduate degree replacements. The curriculum is integrated with core courses that are commonly found in the computational finance program.
The online MS in Finance curriculum features courses that prepare students for the Financial Risk Manager, Certified Financial Planner, and Chartered Financial Analyst examinations.
The University of Cincinnati developed cooperative education more than a century ago. Its co-op programs rank among the Top 5 in the country by the US News and World Report. UC’s co-op students obtain a collective $75M annually. They work in more than 20 countries and 44 states for 1,300+ employers.
West Texas A&M University
Canyon, TX
Online Master of Finance and Economics
West Texas A&M University is a higher learning institution headquartered in Canyon. It is considered the Northernmost of the Texas A&M University System. Founded in 1910, this public university was formerly known as West Texas State Normal College. The Southern Association of Colleges and Schools has fully accredited WTAMU, and it is one of the seven state-funded teachers’ colleges in Texas.
- WTAMU’s online Master of Finance and Economics program is offered through the Paul and Virginia Engler College of Business.
- The 100% online MSFE program is open to all students with a 4-year baccalaureate degree from an accredited college or university.
- A total of 36 to 45 credit hours is required to complete the 100% online asynchronous curriculum.
- Students can complete their degree within 24 months; however, the university allows up to six years to complete the program.
- All students in the online MSFE program must complete and pass a comprehensive exam to earn their graduate degree.
Standout Features:
West Texas A&M University’s online Master of Finance and Economics program was ranked #2 in The Financial Engineer Times for the Best Master’s of Financial Economics Programs. In addition, the US News & World Report has also recognized the Online MSFE program as the 18th and 34th Best Online Master’s in Business Program and Best Online Master’s in Business Program for Veterans, respectively.
The Engler College of Business program is accredited by the Association To Advance Collegiate Schools of Business.
West Texas A&M University is a strong regional university with affordable tuition, selective enrollments, high-quality instructors, and small classes averaging 23 students. With a student population of 9,500, the university is large enough to ensure diversity in backgrounds, values, and lifestyles. WTAMU is well-suited for older students returning to college and community college transfers.
Drexel University
Philadelphia, PA
Online Master of Science in Economics
Over the last 20 years, Drexel University has grown to become an economic driver for Philadelphia. It is a comprehensive global research university with a distinct model of experiential learning that integrates educational rigor with one of the country’s prestigious cooperative academic programs.
- Drexel University’s online Master of Science in Finance program can be accomplished either through full-time or part-time learning.
- Although the program is offered on-campus, students have the option to complete their degrees online.
- Students can focus their studies on one out of four track options, namely Strategic Finance and Risk, Corporate Finance, Investments, and FinTech.
- The program requires at least 45 credit hours for the successful completion of the degree.
- Drexel provides students with the option to pursue different graduate minors to create an interdisciplinary plan of study. Some of the minors they can choose from include Project Management, Economic Data Analysis, Sustainable Operations Management, or Business Analytics.
Standout Features:
The Drexel University – online Master of Science (MS) in Finance program is offered through the LeBow College of Business. It is one of the elite business schools worldwide accredited by the Association To Advance Collegiate Schools of Business.
Drexel LeBow is also a member of a global community consisting of 800 business schools in the Principles for Responsible Management Education Membership of the UN Global. The courses integrated into the MS in Finance program are aligned with sections of the Financial Risk Manager and Chartered Financial Analyst examinations.
With a student population of 25,000 on-campus and online students, Drexel University is one of America’s 15 biggest private universities. The university is located in one of the largest and most lively metropolitan areas in the US – Philadelphia. It is in the center of education, art, and business, known for its passionate residents, rich history, and cultural diversity.
Frequently Asked Questions
What are the common requirements for enrolling in an online Master of Computational Finance program?
Enrollment in the online Master of Computational Finance program will require applicants to have an undergraduate degree from an accredited school, preferably in the field of IT, statistics, economics, or business administration. For some schools, students must complete a set of prerequisite courses in programming, statistics, algebra, or economics before being accepted into the online program.
In addition, when enrolling in the online Master of Computational Finance program, students must submit their statement, GRE scores, CV/resume, letters of recommendation, and official transcripts. If applicable, some applicants may be required to attend an interview as part of their admission requirements.
Students interested in pursuing the online Master of Financial Engineering or the related field must have an undergraduate degree in engineering or mathematics. The financial engineering graduate program will discuss computational methods, fixed-income securities, and stochastic calculus.
What is the standard curriculum of an online Master of Computational Finance program?
Like other online graduate programs, every school has its own curriculum for its online Master of Computational Finance program. However, the common program format often includes courses that develop or strengthen skills and expertise in financial management, computational techniques, applied mathematics, financial forecasting, and financial engineering.
For example, one of the common courses in computational finance and financial engineering programs is Derivatives, emphasizing the computational methods of hedging, valuing, and creating products like credit derivatives and interest rates.
In addition, financial computing courses will discuss the essential topics to help students gain the computing skills required to resolve finance-related challenges. For example, the financial optimization courses are meant to explore a diverse range of numerical optimization strategies for addressing financial applications. On the contrary, risk management subjects are meant for evaluating and mitigating credit risks.
Distance learners will spend the first year of the online Master of Computational Finance program discovering foundational theories in finance while completing introductory courses on economic trading and capital markets. The graduate program in computational finance usually has courses related to economics or mathematics.
Each program can be completed within one to two years of full-time learning. Depending on students’ preferred school, an online Master of Computational Finance will require a maximum of 70 credit hours for completion, with approximately 20 credit hours or more coming from required core courses.
Is an online Master of Computational Finance similar to an online Master of Science in Financial Engineering?
Students pursuing their online Master of Computational Finance degree are educated and prepared to become proficient in financial engineering concepts, which is considered an interdisciplinary field that applies technical skills in developing, evaluating, or managing financial portfolios and products.
One of the essential tools is financial mathematics, a part of mathematics applied to various financial markets. Given the nature of the program and topics discussed within the computational finance graduate program, the financial engineering program will serve as the closest alternative if the former isn’t available within your state.
The online Master of Financial Engineering programs will help students learn new applications and methods for enhancing forecasting capabilities and creating empirical frameworks that will impact complex market variables and assets. Financial Engineers will require strong foundations that are similar to or associated with computational finance, including the following:
- Financial Forecasting, Accounting, and Reporting
- Microeconomic and Macroeconomic Data and Concepts
- Programming and Software Engineering
- Risk Assessment
- Risk Management Reporting and Analysis
- Statistics, Calculus, and Other Advanced Mathematical Concepts
Rigorous online Master of Computational Finance programs may require a foundation in numerous technical fields and concepts from statistics and applied mathematics. If possible, students can also evaluate the different overlapping prerequisites and skills they need to pursue either the graduate program in financial engineering or computational finance.
What can I do with an online Master of Science in Computational Finance degree?
With a relatively new online Master of Computational Finance/Financial Engineering degree, graduates can venture into their niche and find rewarding career opportunities along the way. Here are potential careers for graduates with the related programs:
Budget Analysts will assist their organizations or businesses in improving and organizing finances through financial propositions, implementation, regulations, and maintenance. Therefore, they must have strong numerical and analytical proficiencies developed through relevant studies in the courses integrated into their graduate program.
Financial Analysts must be proactive in evaluating and studying economic and business trends to maximize profits and investments for their clients. An online Master of Computational Finance program will prepare them with relevant courses in financial analysis and theories.
Financial Managers will ensure the organization’s or business’s financial health by overseeing financial transactions and departments, creating effective financial strategies, and preparing financial reports.
Therefore, they must have a broad understanding of financial markets and trends to manage their companies’ financial health efficiently.
Personal Financial Advisors will help their clients with retirement plans, taxes, real estate planning, mortgages, investments, and other financial ventures.
With an online Master of Computational program, graduates are equipped with the knowledge and proficiencies to understand risk management and financial investment tools, providing clients with financial advisory services and other related expertise.
Securities, Commodities, or Financial Services Agents
Securities, commodities, or financial services agents will serve as the bridge between buyers and sellers for investment portfolios. They must have in-depth knowledge of economic and financial topics to pursue high-level career positions.
The online Master of Financial Engineering program will provide them with comprehensive training to become proficient agents.
Key Takeaways
- Are you expecting a job promotion… but, need additional credentials? Without a doubt, earning a Master’s degree in Computational Finance is a great choice.
- If you need an online distance learning option to earn your degree, check out the above options to find one that fits your needs.
- An online Master of Computational Finance program will allow you to study while maintaining full-time employment.
Additional Resources:
